November 14, 2018 / 7:07 AM / 8 months ago

BUZZ-India's Binani Industries jumps; regulator rules UltraTech's bid valid

** Shares of Binani Industries Ltd jump as much as 18.1 pct to 94.2 rupees, their highest since Sept 27

** The National Company Law Appellant Tribunal (NCLAT) approved the resolution plan of UltraTech Cement Ltd’s acquisition of Binani’s cement unit

** NCLAT dismissed Dalmia Bharat Ltd’s plea, saying its offer for Binani was discriminatory against financial and operational creditors, CNBC-TV18 reported

** Co posts biggest intraday gain in 10 months, about 403,839 shares change hands vs 30-day moving avg of about 33,670 shares

** Stock down 42.36 pct this year, as of last close

** UltraTech shares rise as much as 3.87 pct, their highest since Oct 1

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